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Consolidated Statements of Cash Flows (USD $)
In Thousands
6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Cash flows from operating activities    
Net income $ 56,547 $ 57,334
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation of property, plant and equipment 75,243 79,606
Other amortization 11,965 2,149
Provision for loan losses 7,105 6,349
Loans receivable originated and purchased, held for sale (64,028) (136,197)
Proceeds from sale of loans receivable, held for sale 71,829 167,583
Changes in deferred income taxes 39,051 (2,381)
Changes in excess tax benefits from share-based payment arrangements (55) 97
Allowance for equity funds used during construction (2,561) (3,620)
Decrease in cash overdraft (2,305) (302)
Changes in assets and liabilities    
Increase in accounts receivable and unbilled revenues, net (52,537) (25,012)
Increase in fuel oil stock (6,509) (49,759)
Decrease (increase) in accounts, interest and dividends payable (41,989) 1,359
Changes in prepaid and accrued income taxes and utility revenue taxes 8,333 (30,699)
Changes in other assets and liabilities (44,908) 11,732
Net cash provided by operating activities 55,181 78,239
Cash flows from investing activities    
Available-for-sale investment and mortgage-related securities purchased (193,119) (379,896)
Principal repayments on available-for-sale investment and mortgage-related securities 161,526 203,783
Proceeds from sale of available-for-sale investment securities 2,066  
Net decrease (increase) in loans held for investment (104,824) 61,017
Proceeds from sale of real estate acquired in settlement of loans 3,977 2,118
Capital expenditures (89,088) (76,659)
Contributions in aid of construction 8,153 9,430
Other (2,911) (10)
Net cash used in investing activities (214,220) (180,217)
Cash flows from financing activities    
Net increase (decrease) in deposit liabilities 79,577 (57,226)
Net increase (decrease) in short-term borrowings with original maturities of three months or less (24,923) 13,023
Net increase (decrease) in retail repurchase agreements 1,803 (41,112)
Proceeds from issuance of long-term debt 125,000  
Repayment of long-term debt (50,000)  
Changes in excess tax benefits from share-based payment arrangements 55 (97)
Net proceeds from issuance of common stock 12,071 10,789
Common stock dividends (47,331) (46,246)
Preferred stock dividends of subsidiaries (946) (946)
Other (172) (1,805)
Net cash provided by (used in) financing activities 95,134 (123,620)
Net decrease in cash and cash equivalents (63,905) (225,598)
Cash and cash equivalents, beginning of period 330,651 503,922
Cash and cash equivalents, end of period $ 266,746 $ 278,324